Restaurants are now a better draw than retail in a tough economy, and new retail centers are upping their percentage of eating places to follow suit.
"Developers say a popular restaurant can generate as much or more sales than a department store without using as much space. The proof, they say, is in the success of places such as Dallas' West Village.
Consumer behavior has changed with more people dining at a wider variety of places closer to home. In addition, other retail options have narrowed. Traditional retailers such as Foot Locker, Linens 'n Things and Zales have closed stores or shrunk expansion plans amid a tough national economy.
"Statistics show that consumers will eat out even if they cut back in other areas," said Jud Pankey, who's developing Lake Highlands Town Center in Dallas.
The National Restaurant Association has projected U.S. restaurant sales to increase 4.4 percent this year from 2007, even amid rising consumer prices."
Phase 1 Revealed for $20 Billion Chicago Megaproject
Plans for One Central, a proposed megadevelopment that would add 22.3 million square feet of buildings to the city of Chicago, are taking shape.
Top Websites for Urban Planning – 2021
Planetizen's annual list of the best of the urban planning Internet.
Survey: What Mobile Apps Are Most Useful for Planning in 2021?
Planetizen is requesting your input in creating the definitive list of mobile apps for professional, student, academic, or citizen planners—updated for a planning profession forever altered by the Covid-19 pandemic.
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